The rules surrounding Inheritance Tax can be complex and confusing so it is important to seek specialist IHT planning advice to ensure that you will leave behind a legacy for your loved ones rather than handing over more than is necessary to the taxman.
However, during the next year, phased in increases in the Residential Nil Rate Band (RNRB) are expected to reduce IHT receipts going forward.
This is because under the RNRB, married couples and people in civil partnerships could have an extra £350,000 of IHT-free allowance per couple.
At Hampstead Wealth, we are able to explain, in no-nonsense terms, how IHT issues might impact on your estate and help you sort out your tax affairs.
We will work on your behalf so that more of your hard-earned money stays with you and, eventually, your loved ones.
Do you want to protect your assets from Inheritance Tax?
Check out our helpful animation below:
For help and advice with all aspects of Inheritance Tax planning, please contact us.